NATURES SUNSHINE PRODUCTS INC

NATURES SUNSHINE PRODUCTS INC

Previous company name
AMTEC INDUSTRIES INC
Name change date
11/8/1982
Company Overview
Nature’s Sunshine Products, Inc. is a direct-selling company that manufactures and markets tablets and encapsulated herbal products, high-quality natural vitamins, food supplements, skin care and other complementary products. Gene and Kristine Hughes, along with Dick and Pauline Hughes and Jay and Arva Hughes, established the company in the 1970s as a small family business, selling encapsulated cayenne and other herbs to health food stores. The company is based in Provo, Utah, USA.
Nature’s Sunshine Products is one of the largest manufacturers and marketers of supplementary health care products in the US, producing a total of more than 700 products. The company has business operations in the United States, South Korea, Mexico, Venezuela, Japan, Brazil, Canada, Central America, Colombia, Ecuador, Peru, the United Kingdom, Israel and Chile. The company also exports its products to several other countries, including Argentina, Australia, Malaysia, New Zealand, Norway and the Russian Federation.
The company’s Synergy Worldwide multi-level marketing division sells the company’s products in the United States and selected Asian countries. The founding Hughes family holds approximately 25% of the company’s shares.
Business Summary
Nature’s Sunshine Products, Inc., together with its subsidiaries, is primarily engaged in the manufacturing and marketing of nutritional and personal care products. The Company sells its products worldwide to a sales force of independent distributors, who use the products themselves or resell them to other distributors or consumers. Its operations are conducted in the United States, as well as in various other countries. The Company’s subsidiaries are located in Mexico, Central America, Canada, Venezuela, Dominican Republic, Japan, Ecuador, the United Kingdom, Colombia, Peru, Israel, Russia, Ukraine, Latvia, Lithuania, Kazakhstan, Mongolia, Belarus, China, Poland and Brazil. The Company exports its products to several other countries, including Argentina, Australia, Chile, New Zealand and Norway. Nature’s Sunshine Products, Inc. also sells its products through a separate division, Synergy Worldwide.
Description and history
Nature’s Sunshine Products, Inc., incorporated in 1976, together with its subsidiaries, is primarily engaged in the manufacturing and marketing of nutritional and personal care products. The Company sells its products worldwide to a sales force of independent distributors, who use the products themselves or resell them to other distributors or consumers. Its operations are conducted in the United States, as well as in various other countries. The Company’s subsidiaries are located in Mexico, Central America, Canada, Venezuela, Dominican Republic, Japan, Ecuador, the United Kingdom, Colombia, Peru, Israel, Russia, Ukraine, Latvia, Lithuania, Kazakhstan, Mongolia, Belarus, China, Poland and Brazil. The Company exports its products to several other countries, including Argentina, Australia, Chile, New Zealand and Norway. Nature’s Sunshine Products, Inc. also sells its products through a separate division, Synergy Worldwide. Synergy Worldwide sells products in the United States, Japan, South Korea, Singapore, Thailand, Taiwan, Malaysia, Hong Kong, Philippines, Indonesia, the United Kingdom, Germany, Austria, the Netherlands and Australia.

The Company conducts its business through three operating business segments. Two of the operating business segments operate under the Nature’s Sunshine Products name and are based on geographic operations: a United States segment (NSP United States) and an international segment (NSP International). Its third operating business segment is Synergy Worldwide. Synergy Worldwide offers products with formulations different from those of the Nature’s Sunshine Products offerings. The Company’s line of over 700 products includes herbal products, vitamins and mineral supplements, personal care, nutritional drinks, and miscellaneous other products. Nature’s Sunshine Products, Inc. purchases herbs and other raw materials in bulk, and after quality control testing, formulate, encapsulate, tablet or concentrate, and package them for shipment. Most of its products are manufactured at its facility in Spanish Fork, Utah.

Herbal Products

Nature’s Sunshine Products, Inc. manufactures a selection of herbal products, which are sold in the form of capsules or tablets. These capsules or tablets contain herb powder or a combination of two or more herb powders. The Company also produces both single herbs and herb combinations in the form of liquid herbs and extracts. Liquid herbs are manufactured by concentrating herb constituents in a vegetable glycerin base. During the year ended December 31, 2008, herbal products accounted for approximately 49.6% of net sales revenue.

Vitamins and Mineral Supplements

The Company manufactures a variety of single vitamins, which are sold in the form of chewable or non-chewable tablets. Nature’s Sunshine Products, Inc. also manufactures several multiple vitamins and mineral supplements, including a line containing natural antioxidants. During 2008, vitamin and mineral supplements accounted for approximately 44.4% of net sales revenue.

Personal Care Products

Nature’s Sunshine Products, Inc. manufactures or contract with independent manufacturers to supply a variety of personal care products for external use, including oils and lotions, aloe vera gel, herbal shampoo, herbal skin treatment, toothpaste, and skin cleanser. During 2008, personal care products accounted for approximately 2.8% of net sales revenue.

Other Products

The Company manufactures or contracts with independent manufacturers to supply a variety of other products, including a variety of nutritional drinks, homeopathic products, and powders. During 2008, other products accounted for approximately 3.2% of net sales revenue.

The Company competes with Herbalife, Pharmanex (NuSkin), USANA, Shaklee, Mannatech and Amway.

Gene and Kristine Hughes, along with Dick and Pauline Hughes and Jay and Arva Hughes, established the company as a small family business, selling encapsulated cayenne and other herbs to health food stores

Business Line
A direct-selling company that manufactures and markets tablets and encapsulated herbal products, high-quality natural vitamins, food supplements, skin care and other complementary products
Subsidiary
NATURE’S SUNSHINE PRODUCTS INTERNATIONAL DISTRIBUTION B.V.
Advisor
DELOITTE & TOUCHE LLP
IPO date
3/26/1990
US SIC Code
2099
Company Address
75, East 1700 South

City province or state postal code
84606, PROVO, UT
Phone: +1 801 342 4300
Fax: +1 801 342 4305
Country address: UNITED STATES OF AMERICA
Website url: www.naturessunshine.com